This paper examines the agency conflict between mutual fund investors and mutual fund companies. Investors would like the fund company to use its judgment to maximize risk-adjusted fund returns. A fund company, however, in its desire to maximize its value as a concern has an incentive to take...

Scholars in many fields of economics have become very interested in Silicon Valley-style agglomeration of individual industries. These agglomerations are striking features of the economic landscape and may provide insightsinto the nature of the increasing returns technologies and spillovers that...

This paper explores a monopolist's incentives to provides upgraded versions of its software. In particular, the authors examine how market power, commitment problems and price discrimination may lead a monopolistice supplier of a network good to introduce upgrades when social welfare would be...